Canada's Labour Market Cools Down with 42,000 Job Losses in August

The Canadian economy lost 42,000 jobs in August, ending a hot streak that saw 181,000 positions added from April through July. According to Statistics Canada, this loss fell short of economists' expectations for a gain of 15,000 positions.

The unemployment rate held steady at 6.4 per cent last month, with little change in the private sector and self-employment. However, the public sector shed 20,000 positions in its third consecutive decline.